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Suzuki and VW finalize their divorce

The rocky divorce between Suzuki and Volkswagen is finally over after working its way through the International Court of Arbitration since 2011, according to the Japan Times. In the final settlement to end the companies' disputes, Suzuki agreed to pay VW an undisclosed amount for not living up to the agreement to use the German automaker's diesel engines. While they won't disclose the exact sum, Suzuki said in a statement that the money "will not have any significant impact" on its 2015 fiscal year results, which will end in March. The arbitration court took the biggest step to end this transcontinental partnership in August 2015 when the body ruled VW needed sell its 19.9-percent stake in Suzuki. However, the Japanese company wasn't entirely off the hook because VW was still allowed to sue for damages over the diesel engine issue. This latest decision finally clears up that dispute. Like most marriages, the union between VW and Suzuki began with stars in both parties' eyes. The Germans paid $2.8 billion to buy 19.9 percent of the Japanese company in December 2009. VW was supposed to get greater access to the auto market in India, and Suzuki hoped to capitalize on access to its partner's advanced technology. By 2011, rumors started percolating that things were contentious behind closed doors. VW allegedly tried to assert control over Suzuki's operations, and the Japanese company reportedly wasn't happy with its access to the German tech. Suzuki even bought diesel engines from Fiat, rather than VW. Later that year, company CEO Osamu Suzuki announced he would end the alliance, and they started working through arbitration. Notification Concerning Resolution of Arbitration by Settlement As Suzuki has reached a settlement regarding the arbitration that Suzuki filed with the International Court of Arbitration of the International Chamber of Commerce on 24 November 2011, Suzuki informs you of the following: 1. History from the Request for Arbitration to the Settlement As announced in the "Notification Concerning Arbitration Award" dated 30 August 2015, the Tribunal indicated that it would address the issue of alleged damages arising from Suzuki's breach of the agreement claimed by Volkswagen AG ("VW") in a further stage of the arbitration proceedings. Suzuki reached a settlement with VW in regard to such arbitration proceedings on 10 February 2016. Accordingly, the arbitration proceedings have been concluded. 2.

Recharge Wrap-up: VW Golf TDI wins green car award, DC buses might go electric

The 2015 Volkswagen Golf TDI has won the award for 2014 Northwest Green Car or the Year. The distinction comes from the Northwest Automotive Press Association during its Drive Revolution event in Portland. Co-chairman of the event, Jeff Zurschmeide, says, "Volkswagen has led the diesel passenger car market for years, and the Golf TDI proves that they're likely to stay on top for a while." The 2015 Golf TDI has 10 more horsepower than the outgoing model, while improving fuel economy thanks to a new engine. It also has a base price $3,000 lower than the 2014 Golf TDI. Read more in the press release below. The BMW i8 gets its laser high-beam headlights from lighting company Osram. The laser lights use half the energy of their LED counterparts, according to BMW, which is important when one is trying to get every last bit of range out of the car's battery. The laser high beams can also reach about twice as far as LED lighting. Because of their brightness, they won't be available on cars sold in the US. In laser-equipped i8s, the laser high beams will not work below 60 kilometers per hour, nor when other lights are detected in front of the vehicle. Head to Automotive News Europe to read more. Renault has delivered a fleet of 30 Kangoo ZEs to Uruguay's government-owned power company, UTE. The electric fleet will allow the company to reduce its CO2 emissions by 36 metric tons, says Renault. 84 percent of Uruguay's electricity comes from renewable sources, with a goal of 90 percent on the horizon. Uruguay aims to get a third of its electricity from wind farms by 2016, meaning these Kangoo ZEs will be powered in no small part by renewable energy. For Renault, "This order is a further sign of the interest in the region for electric vehicles," according to Denis Barbier, Renault's senior vice president, citing previous deliveries in Brazil, Mexico, Argentina and Colombia. Read more in the press release at Renault's website. Washington DC's "Circulator" bus routes may go electric. Some of the diesel buses, which were first put to work in 2003, are nearing the end of their life cycle, and DC sees an opportunity to make the switch to something a little greener. "Electric has not been a viable option in previous procurements, but now it is," says Will Handsfield, Georgetown Business Improvement District's transportation director. Handsfield is concerned about air quality, and says he also appreciates the long-term stability of electric rates compared to diesel.

VW makes $9.2B offer for rest of truckmaker Scania

Volkswagen owns or has controlling interests in three commercial truck operations: besides its own, VW began buying shares in Sweden's Scania in 2000 and now controls 89.2 percent of its shares and 62.6 percent of its capital, then bought into Germany's Man in 2006 - in order to prevent Man from trying to take over Scania - and now owns 75 percent of it. The car company has managed to work out 200 million euros in savings, but believes it can unlock a total of 650 million euros in savings if it takes outright control of Scania and can spread more common parts among the three divisions.
It has proposed a 6.7-billion-euro ($9.2 billion) buyout, but according to a Bloomberg report, Scania's minority investors don't appear inclined to the deal. Although effectively controlled by VW, Scania is an independently-listed Swedish company, and a profitable one at that: in the January-September 2013 period its operating profit was 9.4 percent compared to Man's 0.4 percent. Some of the other shareholders believe that Scania is better off on its own and will not approve the deal, some have asked an auditor to look into the potential conflict of interest between VW and Man, while some are willing to examine the deal and "make an evaluation based on what a long-term owner finds is good," which might not be just "the stock market price plus a few percent." The buyout will only be official assuming VW can reach the 90-percent share threshold that Swedish law mandates for a squeeze-out.
Many of the arguments against boil down to investors believing that Scania's Swedishness and unique offerings are what keep it profitable, and ownership by the German car company will kill that. (Have we heard that somewhere before?) If Volkswagen can buy that additional 0.8-percent share in Scania, perhaps its buyout wrangling with Man will give it an idea of what it's in for: "dozens" of minority investors in the German truckmaker have filed cases against VW, seeking higher prices for their shares. It is likely only to delay the inevitable, though. If VW is really going to compete with Daimler and Volvo in the truck market, it has to get the size, clout and savings to do so.